If you are the beneficiary of a health savings account (HSA), then the IRS requires you to prepare Form 8889 with your tax return before you can deduct your contributions to the account. The purpose of the form is to report your deductible contributions, calculate the deduction, report the ...
Form 8889: Health Savings Accounts (HSAs) Form 8936: Clean vehicle credit 8936 Schedule A: Clean Vehicle Credit Amount Form 8958: Allocation of Tax Amounts in Community Property States Form 8959: Additional Medicare Tax Form 8960: Net Investment Income Tax ...
W– Employer contributions (including amounts the employee elected to contribute using a Section 125 cafeteria plan) to your health savings account (HSA). (Not included in Box 1, 3, or 5.) Report on Form 8889, Health Savings Accounts (HSAs). Y– Deferrals under a Section 409A nonqualifi...
It's easy to see IRS Form 1099 as representing a big liability since it reports income that hasn't already been taxed in the form of withholding.
It’s worth mentioning that Form 5498-SA is not the only form that may be required when reporting HSA distributions. Individuals may also have to complete Form 8889, which provides detailed information about HSA contributions and distributions and calculates the taxable portion, if any, of non-qu...